DM944 Product Costing and Financial Management

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Department of Design, Manufacture and Engineering Management


MODULE DESCRIPTION FORM


DM944

Product Costing and
Finan
cial Management





Module Registrar:

Dr Kepa Mendibil


Taught To (Course):
MSc in SCOM

Other Lecturers Involved:


Credit Weighting:

1
0

Semester:

2

Assumed Prerequisites:

None


Compulsory/Optional/

Elective Class:

Academic Level:

5


Module Format and Delivery (hours):



Lecture

Tutorial

Laboratory

Project

Private
Study

Total



24



24

52

100



Educational Aim


This module aim
s to provide students with an understanding of strategic aspects of finance in relation to the
decision
-
making process and analysis necessary for efficient management of supply chains.



Learning Outcomes


On completion of the module the student is expec
ted to be able to:


LO1 Demonstrate knowledge and understanding of economic principles as applicable in the context of supply
chains.

LO2 Demonstrate understanding of the financial organisation of industrial enterprises.

LO3 Understand, interpr
et and prepare financial statements and costing models of industrial enterprises.

LO4 Evaluate financial models to facilitate economic decision making in supply chains.

LO5

Evaluate the application and impact of performance measurement tools in supp
ly chains.



Syllabus


Part 1. Introduction



How do businesses compete?



Macro and micro economics



Theory of supply and demand

Part 2. Financial Management



Financial organisation



Financial accounting



Financial planning

Part 3. Cost Engineering



Classificati
ons of costs



Costing methods

Part 4. Performance Evaluation



Financial ratios



Limitations of financial management techniques



Non
-
financial performance measurement techniques

Part 5. Financial Analysis



Investment decisions



Investment analysis

Part 6. Other a
spects of Financial Management



Risk Management



Finance and Project Management



Assessment of Learning Outcomes


For each of the Module Learning Outcomes the following criteria will be used to make judgements on student
learning


LO1
Demonstrate knowl
edge and understanding of economic principles as applicable in the context of
supply
chains


C1 Describe the main principles of economics and their application in
supply chains

C2 Discuss organisational

and supply chain

competitiveness


LO
2
Demonstrate understanding of the financial organisation of industrial enterprises

C1 Describe the key roles of the financial organisations

C2 Describe the characteristics of the key financial processes


LO3
Understand, interpret, prepar
e and evaluate financial statements and costing models of industrial
enterprises

C1 Describe the different types of financial accounts and their key functions

C2 Interpret and prepare detailed financial statements

C3 Describe the differen
t types of costing methods including the main pros and cons

C4 Evaluate the suitability of different costing methods in the context of a specific industrial work or project


LO4 Evaluate financial models to facilitate economic decision making in s
upply chains.

C1 Describe the role of performance evaluation, risk management and investment analysis in economic
decision making


LO5 Evaluate the application and impact of performance measurement tools in supply chains

C1 Discuss the limitat
ions of financial accounting techniques and the use of non
-
financial performance


measures

C2 Demonstrate detailed understanding of the relationship between financial and non
-
financial factors in
relation to


supply chain perform
ance.

C3 Discuss the applicability and use of performance management models in supply chains



The standards set for each criterion per Module Learning Outcome to achieve a pass grade are indicated on the
assessment sheet for all assessment.



12 Pr
inciples of Assessment and Feedback

(on Learning & Teaching web pages:
www.strath.ac.uk/learnteach/teaching/staff/assessfeedback/12principles/

)


Please state bri
efly how these are incorporated in this module.


1. Good performance will be clarified by allowing students to examples selected samples of previous work to identify differen
t
levels of performance and criteria for evaluation

2.
Students will be given the
opportunity to submit early drafts of coursework for feedback. This provides opportunities for self
-
adjusting their performance.

3. Criteria for assessment will be discussed and clarified at the start of the coursework.

4. Students, working in teams, will
be given the opportunity to review, discuss and provide feedback on work carried out by
peer groups




Assessment Method(s) Including Percentage Breakdown and Duration of Exams



Examinations

Courseworks

Projects



Number

Duration

Max
Marks

Number

Max
M
arks

Number

Max
Marks






2

x 50%

100




L/Outcomes


LO1, 2, 3 and 4





Coursework / Submissions deadlines:


Weeks 8 and 10.


Resit Assessment Procedures:


Students need to gain a summative mark of 50% to pass the module. Students who fail the modu
le at the first
attempt will be if appropriate re
-
examined during the August diet. This re
-
examination will consist entirely of
coursework
.





Recommended Reading


Drury, C. (2003), Cost and Management Accounting: An Introduction (5
th

edition), Thomson

Learning.

Bourne, M., Bourne, P. (2000), Understanding the Balanced Scorecard in a Week, Institute of Management
Accounting.



Additional
Student Feedbac
k

(Please specify
details of when additional feedback will be provided
)



Date

Time

Room No



Week

13, Thursday

11
-
12

TBA



Session:
2012
/201
3


APPROVED

Course
Director

Signature:


Dr A Thomson

Date of
Last Modifications
:
28
September 201
3

MODULE TIMETABLE





Module Code:



DM
944



Module Title:


Product Costing and
Financial
Managem
en
t



Brief Description of Assessment:


Assignment 1
-

Performance management in the supply chain: to demonstrate an in
-
depth understanding of different costing models, their application and
performance management within the context of a supply chain


A
ssignment 2
-

Working in groups students need to carry out a detailed study on one the following topic: (1) Managing your business in the e
conomic downturn,
(2) Financial Planning and control, (3) Investment Analysis, (4) Financial Risk Management




Ass
essment Timing:
-


Indicate on the table below the Start/Submission dates for each Assignment/Project and the timing of each Exam/Class Test(s).



Semester


WK1


WK2


WK3


WK4


WK5


WK6


WK7


WK8


WK9


WK10


WK11


WK12


Exam Period

One


















Semester


WK1


WK2


WK3


WK4


WK5


WK6


WK7


WK8


WK9


WK10


WK11


WK12


Exam Period

Two

Hand out
Assignme
nt 1 and 2







Submit
assignme
nt 1


Thur @ 12


Submit
Assignme
nt 2

Thur @ 12